State Bank requests to reduce lending interest rates

On November 27, the State Bank of Vietnam issued a document on stabilizing deposit interest rates and striving to reduce lending interest rates to support businesses and people.

The State Bank of Vietnam (SBV) has just issued Official Letter No. 9774/NHNN-CSTT requesting credit institutions and foreign bank branches to keep interest rates stable. Photo: SBV.

The State Bank of Vietnam (SBV) has just issued Official Letter No. 9774/NHNN-CSTT requesting credit institutions and foreign bank branches to maintain stable deposit interest rates. At the same time, these units must implement measures to strive to reduce lending interest rates, supporting businesses and people to access capital sources at lower costs.

For credit institutions, the State Bank emphasized the need to maintain stable and appropriate deposit interest rates, ensure capital balance and increase credit expansion capacity. In addition, these institutions must promote the application of digital technology, simplify lending procedures to reduce operating costs, thereby supporting the reduction of lending interest rates. In addition, transparency of information on interest rates and preferential credit programs on official information platforms is also a key requirement.

As for the local branches of the State Bank, the assigned tasks include closely monitoring the interest rate situation in the area, directing credit institutions to implement loan interest rate reduction. At the same time, it is necessary to strengthen communication so that people and businesses can easily grasp preferential policies and access credit capital in a transparent and effective manner.

Through these synchronous solutions, the State Bank aims to support production and business, promote economic growth and reduce financial difficulties for businesses and people. This is a necessary step to stabilize the macro economy and create momentum for sustainable development in the current context.

Source: https://baoquangninh.vn/ngan-hang-nha-nuoc-yeu-cau-giam-lai-suat-cho-vay-3331752.html